Pherecydes Pharma Publishes Its Half-year 2021 Financial Results and Assesses Its Positive Development Momentum

• Operating charges totaled €three,257 thousand inside the first 1/2 of 2021, up 27% in comparison with the determine of €2,568 thousand recorded a year earlier. This increase changed into due to a 24% rise in other purchases and outside charges and a 35% upward push in personnel charges following the strengthening of the groups at the Romainville and Nantes sites. The running loss changed into €1,929 thousand within the first half of 2021 as opposed to €2,146 thousand within the first half of of 2020, there has been therefore a ten% discount inside the operating loss. This development become ordinarily because of the large increase in running income between those intervals extra than offsetting the growth in working costs.

Exceptional profits totaled €225 thousand within the first 1/2 of 2021 versus €546 thousand inside the same half of of the preceding 12 months, reflecting the leveling out of spending within the framework of the PhagoProd challenge financed by the European Commission, on the way to soon be completed, and an high-quality provision booked for gadget the Company now not uses. The net loss turned into €1,454 thousand for the first six months of 2021, a mild lower compared with the lack of €1,527 thousand recorded over the identical period of 2020.

Financial structure At June 30, 2021, the Company had a cash role of €7,675 thousand (versus €1,652 thousand at December 31, 2020), a figure that appreciably consists of the €7 million net proceeds of the IPO achieved in February 2021. Shareholders’ equity was €10,942 thousand at June 30, 2021 versus €5,285 thousand at December 31, 2020. The Company’s cutting-edge cash role will permit Pherecydes Pharma to finance its improvement according with the method presented at the time of its IPO.

H1 2021 features and most recent attributes

• Conceding of a €2 million State-Guaranteed Loan

On April 29, 2021, the Company reported that it had gotten, inside the system of the “State-Guaranteed Loan – Innovation Support” conspire, a €2 million advance from Bpifrance.

Pherecydes Pharma has likewise gotten the “Les Excellence” grant from Bpifrance for the blast course it has executed in 2021, representing Bpifrance’s unmistakable guide for the Compan.

• Granting of a new patent in Hong Kong

Thanks to its energetic highbrow belongings coverage, Pherecydes Pharma has a portfolio of four patents overlaying every of its phages and their versions, some of that have already been granted in predominant jurisdictions inclusive of america, Europe, Japan, Australia, Hong Kong and Israel.

Testimony from a number of dealt with sufferers illustrates the real want for precision phage therapy, Pherecydes Pharma’s raison d’être and conflict, including the testimony posted in the Hospices Civils de Lyon newsletter.

• Publications and medical meetings

On May 6, 2021, the Company announced the ebook, in Frontiers in Medicine by Prof. Tristan Ferry of Hospices Civils de Lyon, of an editorial highlighting the useful effect of the anti-Pseudomonas aeruginosa phages developed by using Pherecydes Pharma in treating a case of prosthetic knee infection. On June 7, 2021, the Company announced the book, in the prestigious British Journal of Pharmacology, of the results of a preclinical trial, in pigs, showing the blessings of inhaled.

This facts opens a brand new scope of utility for the belongings advanced with the aid of the Company.

• Production of GMP batches

Pherecydes Pharma has endured the GMP (Good Manufacturing Practices) manufacturing of batches of phages with its numerous subcontractors. The Company now has GMP batches of anti-S. Aureus and anti-P. Aeruginosa phages.

Trategy & Outlook 

Over the coming months, the Company intends to keep the improvement of its various property and boost up the ramping up of precision phage therapy. The Company’s financial resources will extensively be allotted to accomplishing the subsequent strategic objectives:
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